On the construction sites of the Adler subsidiary Consus, like here at the Steglitzer Kreisel in Berlin, there is hardly any progress. That affects the balance sheet. The group writes off a billion from Consus.
(Photo: Bloomberg)
Berlin, Zurich, Dusseldorf Anyone who leafs through the Adler Group’s annual report from the beginning can easily get the impression that 2021 was essentially a good year for the real estate group. The document, which Adler published on Saturday evening, states right at the beginning that rental income has grown to almost 500 million euros. The vacancy rate is a low 1.1 percent.
A press release quotes good news from the board members. “The Adler Group’s operating base is stable and robust and we are making progress in improving our capital structure,” says CEO Maximilian Rienecker. His colleague Thierry Beaudemoulin seconded: “The Adler Group has a valuable portfolio and an attractive project development pipeline at top locations.”
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